Raptor Technology Group, Inc., who is in the process of acquiring Raptor Fabrication & Equipment, Inc. (Raptor) via their subsidiary D&D Mining LLC., has signed a contract with Eco Ventures Group, Inc. (EVG) to commercialize Raptor’s mineral recovery technology. With this agreement, EVG will provide funding, management, and business development services to construct and operate a 10,000 ton per year mineral recovery facility using Raptor’s proprietary, patent pending recovery process.
Raptor’s D&D Mining subsidiary has developed advanced chromatography and a combination of innovative separation technologies. These allow for the recovery of precious and rare earth metals that were previously too costly to remove from mine tailings. The recovery process targets gold, platinum, palladium, rhodium, and other rare earth oxides. This technology provides an eco-friendly means of recycling these mine tailings both economically and profitably.
EVG and Raptor will commence assembly of the mineral recovery facility in a newly leased 21,000 square foot building in Groveland, Florida. They expect the plant to be operational within 90 days of construction. EVG and Raptor will work together to develop a scalable, commercialized platform for this innovative technology.
The agreement with EVG will allow Raptor to increase their current production rate of 2,000 tons annually to 10,000 tons annually upon the completion of the plant. Raptor, as previously announced, signed a long-term contract with Washoe Custom Processing LLC. Over the last 30 days, Washoe Custom Processing LLC has delivered more than 100 tons to Raptor’s Groveland facility.
The first 20 tons of ore processed recovered an estimated value of $25,000 per ton. In addition, the agreement with EVG will allow Raptor to speed up the progress of their contract with Washoe Custom Processing LLC while developing other potential relationships with similar mining projects.
Headquartered in Groveland, Florida, Raptor Technology Group, Inc. has positioned their company to become a leader in the biofuel and mining industries. This is with their advanced proprietary biofuel production technology and mineral recovery technologies.
Raptor Technology Group, Inc. has signed a “Plan of Merger Agreement” with Raptor Fabrication & Equipment, Inc. They anticipate completion of the business combination soon. Raptor Fabrication & Equipment, Inc. is a technology supplier that provides eco-friendly and green solutions to global issues. The Company’s commitment is to developing reliable fuel and energy alternatives by making them dependable and economically appealing to the manufacturer and the consumer.